All Forum Posts by: Josh Caldwell

Can you give me a summary of the deal as you see it?  I would like to evaluate this in the context of risk vs reward. 

I am 100% unfamiliar with this company. It sounds like you are looking at providing a private loan to them, is that correct?  

I am writing an article and I need some HELP. I can't seem to find much statistical info on private lending.

Specifically, I am trying to illustrate the size of the market.  How many private loans are made in the US. How much money is loaned privately to purchase or renovate real estate? How much money is sitting in SDIRA accounts? 

Any links to legitimate data would be greatly appreciated. 

To your success

Josh Caldwell 

There are a couple of things at play here. You can net 800-900 per month but you will need to be very picky about what property you buy. most 100k houses wont hit that number. You need a bargain, and it is doable. It would be easier to do that across 5 houses that net $200 per month after PITI, with traditional mortgages. We can get past the cash flow part.

Where real estate really trounces a stock portfolio is when you start to actually pull the money out and live on it. For your stock portfolio 401k type of investment, you need to sell the stocks to get the benefit from the 600k. With real estate you get the monthly cash flow WITHOUT consuming the asset, it is still there.  Your value keeps growing while you own the property due to appreciation and rental inflation. A $900 per month rental today will not be a $900 per month rental in 30 years. It might be 3X that number. 

Welcome to the best decision I ever made.  The world of real estate has allowed me to build the life that most people only dream of.  To your success !! 

Yes, I have 

Owner financing works everywhere in the US All you need is an owner who needs to sell but doesn't need or want all of the money in one big lump. There are a number of ways to find these people You will need to market to them, they are not sitting around on the MLS in most cases.

@Anthony Zayas - I took a side lot by adverse possession years ago. I was able to show a fence in an old picture to prove my case.  Might the current owner have a 21 year old (or older) photo of the house?

How long ago did the garage expansion happen?  If it is more than 21 years, I am not sure you have a problem.  I am not a lawyer but you might want to look at adverse possession law in PA 

My first instinct would be to tell you to look for a distressed multi unit, that you can add some value to. In the time of covid, there are landlords who are not getting paid.  Some of those landlords wont be able to cover their debt service.  In that instance, a low offer would seem a lot better than losing the property to the bank.  

There are two things in play here. First is the contract itself. As long as the seller is mentally competent, he can sign a contract for any length of time he wishes. Some states do have laws to limit this length, but in general, a legal contract is whatever two adults agree to. Now it sounds like the wholesaler lied about who he was, that is sleazy 

The second problem is that you cant circumvent his contract without getting sued for tortious interference of a contract (what it is called in most states)  

The good news, is that it doesnt sound like this loser is doing anything to sell this poor sellers house.  That should make it easy to buy in Feb when the first contract expires. 

Potentially there might be an out clause somewhere in that contract.  I would want to see it and give it a thorough reading to see EXACTLY what the contract says, and IF the wholesaler fraudulently represented himself as a broker.